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1/11, 6:10 PM (Source: TeleTrader)
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NIO-8.93%

46.80
Chart for: NIO INC

Tesla-7.97%

683.14
Chart for: Tesla

Tesla falls over 4% after NIO unveils its new EV

Tesla shares fell over 4% on Monday after its Chinese competitor NIO unveiled its new sedan with a powerful battery pack during the weekend. However, the new richest person in the world, Tesla’s founder Elon Musk stated its Model Y will outsell all other electric vehicles.

Last year, Tesla's stock jumped over 740% as the company reported record deliveries, back-to-back quarters of profitability, and was included in the S&P 500.

Tesla shares were down by 4.33% to $841.77 at 12:07 pm ET while the stocks of Nio jumped by 7.79% to $63.55 a minute later.

Breaking the News / TF